BetMGM has completed its move to its permanent sportsbook at The Banks in Cincinnati, Ohio with further development phases to follow.
Previously, the sports betting and online casino operator was operating from a temporary Great American Ball Park location. The BetMGM Sportsbook at The Banks is located at the corner of Second Street and Joe Nuxhall Way, in the area previously occupied by Galla Park Social.
BetMGM is the Official Sports Betting Partner of the state’s Major League Baseball team, the Cincinnati Reds in a multi-year deal. The deal was signed in October, ahead of the launch of Ohio sports betting at the beginning of 2023.
According to the latest revenue data, BetMGM ranks fourth in market share, whether measured by handle or GGR. In July, BetMGM received $23.0 million in mobile bets in Ohio, resulting in a hold of 12.2% and a gross gaming revenue of $2.8 million. FanDuel and DraftKings are still competing for the top spot in the Buckeye State, while bet365, BetMGM, and Caesars are further behind.
The new BetMGM site includes a 350-square-foot video wall and 42 TVs throughout the space. For betting, there are three in-person windows and 14 self-service terminals. The venue has seating for 200 guests and a VIP area that can be reserved, complete with a private bar, screens, and food.
The company has announced that the opening marks just the first phase of its Ohio expansion, with a full-service restaurant to open later in the year.
Matt Prevost, Chief Revenue Officer at BetMGM commented: “When we were putting together our plans for Ohio prior to our January launch, building the premier sports and entertainment venue at The Banks was an integral part of delivering the BetMGM experience in The Buckeye State. We are thrilled to see this vision become a reality marking our next big next step in growing our relationship with the city of Cincinnati and the Reds.”
Doug Healy, Chief Financial Officer at the Cincinnati Reds added: “Moving the BetMGM Sportsbook to The Banks places this best-in-class operator into the heart of our city’s sports and entertainment district. The popularity of the BetMGM brand will help draw patrons to The Banks and add to the vibrancy of our downtown.”